AMES, Iowa (DTN) -- With land prices knocking on all-time highs, off-farm heirs are looking at ways to cash in their inheritance. And these minority shareholders have gained significant bargaining power, at least in Iowa.

In the case of Baur v. Baur Farms Inc., the Iowa Supreme Court recently sided with minority farm corporate shareholders. Its ruling would force the on-farm majority shareholder to buy out the off-farm heir at fair value.

In that case, the off-farm heir complained he was nearing 80 years old and before he died, he wanted to cash in on the family farm he inherited ...

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